HSBC Bank has revealed a massive mean hourly gender pay gap that has risen from 59 per cent in 2017 to 60 per cent as at 1st February 2018. The median gap was 29 per cent for both years.

HSBC Bank’s mean gender bonus gap – the difference between the bonus paid to male relevant employees and that paid to female relevant employees – is even bigger, standing at 86 per cent in 2017 and falling slightly to 84 per cent in 2018. The median gap was 61 and 57 per cent respectively.

The company’s gender pay gap declaration shows that men made up 66 per cent of top quartile earners in both 2017 and 2018.

HSBC Bank, the company’s largest UK employing entity with over 23,000 employees, had the biggest gender pay gaps across all main metrics. HSBC Global Asset Management (UK) had a mean hourly pay gap of 45 per cent and a mean bonus gap of 64 per cent.

At group level the share of women on HSBC’s board is 29.4 per cent, and the company says its overall share of women in global senior leadership roles has increased year-on-year over the past five years. Standing at 26.8 per cent at the end of 2017.

HSBC group head of human resources Elaine Arden says: “Improving the gender balance across businesses and levels of seniority is a priority and something to which the Group Management Board is committed. We are making progress. Improving our gender balance will take time and require sustained focus over the long-term.”